From this article:
http://www.chicagotribune.com/busine...l=chi-news-hed

The announcement also promised to offer consumers the ability to cherrypick the channels and content they want on a more a la carte basis than now exists.

XM radio receivers can't receive signals from Sirius, and vice versa. But officials from both firms said the companies are working on developing a receiver that could receive both signals.

In the meantime, they said, assuming the deal goes through, the companies would make other arrangements to bring programming that's currently exclusive to one provider to listeners of the other

The deal must be approved by both company's shareholders and get the blessing of antitrust agencies and the Federal Communications Commission. Kevin Martin, the FCC's chairman, already has indicated resistance to such a merger.